Skip to main content
April 2, 2020
Question

I DON'T HAVE FEIN NUMBER FOR INTEREST RECEIVD FROM ABROAD. WHAT DO I HAVE TO INFORM IN THAT FIELD

  • April 2, 2020
  • 1 reply
  • 0 views
No text available

1 reply

April 2, 2020

Click this link for info on FEIN for Foreign Interest.

 

 

April 5, 2020

Yes, thanks. Nonetheless I have three more questions

In the form 8938. 

I have a deposit account in Brasil in a bank which balance is zero on Dec 31/19 and higher amount of balance during the year was $4k  

I have also an investment of $75k in a Mutual Fund  through my bank, which is a separateded entity managed the by Asset Management Company of my bank. I am reporting the 75k investment as Financial Asset. My question is: Do I have to inform only the 4k highest balance in the name of the bank or should I add the 75k managed by the bank's Asset Company as well? My concern is that there will be a double counting if I inform both the highest deposit + 75k investiment. 

Situation nr 2. I also have an account with a brokerage firm which I am considering a custodial account with zero balance in Dec 31 and balance in such account was $1k. I have made several investments ln notes(securities),in Mutual Funds and  CDS amounting to $300k. I am reporting such investments and respective counterparts in FINANCIAL ASSETS.  My question is the same as with my bank. Should I add my investments being in custody + highest deposit also in the custodial account in the name of the brokerage firm? Both my deposit and custodial accounts are in Brasil. 

3) I have also about $50K invested in several CDs which interests are going to be paid at maturity. I have received no interest in those CDs in 2019. Question: Should  I add these CDs in my FINANCIAL ASSETS? 

._

April 7, 2020

I can't give a specific answer to all of your questions, but in general you should report everything that you are in doubt about. The return is for informational purposes, and as such it won't affect your income tax. So, it is best to be report more than less when you are in doubt.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"